The One Big Beautiful Bill Act (OBBBA) introduces sweeping tax law changes that permanently reshape the landscape for individual taxpayers. From preserving the Tax Cuts and Jobs Act (TCJA) brackets to new deductions for seniors, overtime, and tips, this legislation will influence nearly every household return beginning in 2025.

In this session, Dr. Bart Basi will walk through the latest updates and expand upon their real-world application. He’ll connect the statutory changes to filing strategies, compliance considerations, and planning opportunities. Whether you prepare individual returns or guide clients through complex transitions, this webinar equips you with timely insights to stay ahead.

You’ll also gain context on areas not always clear from the statute—such as the impact of refundable adoption credits, the ripple effect of SALT limitation increases on high-income earners, and planning considerations around the permanent estate tax exemption.

This one-hour webinar is on September 17, 2025, from 2-3pm, and counts for 1 hour of IRS CE under the category of Federal Tax Law Related Matters.  

Learning Highlights:

• • Apply permanent TCJA tax brackets and understand how annual inflation adjustments affect rate thresholds after 2025.
  • Identify the increased standard deduction amounts and how they interact with additional deductions for seniors and the blind.
  • Explain the new senior deduction of up to $6,000 per filer, including income-based phaseouts and spousal eligibility.
  • Evaluate the expanded SALT deduction cap ($40,000 for joint filers) and its phased-in adjustments.
  • Incorporate updated credits such as the $2,200 child tax credit, $500 dependent credit, and partially refundable adoption credit into return strategies.
  • Understand the permanent Qualified Business Income (QBI) deduction and analyze how increased phaseout thresholds from 2026 will affect taxpayers with pass-through income.
  • Assess estate planning implications of the $15 million exemption (effective 2026), indexed annually for inflation.
  • Leverage new deductions for tips, overtime, and car loan interest, while navigating applicable MAGI limitations.
  • Stay aware of sunset provisions by recognizing which energy-related credits have been terminated.
  • Anticipate compliance and planning considerations that extend beyond the statute, including timing strategies, client communications, and the intersection of OBBBA with state-level conformity.

About the Presenter: 

Dr. Bart A. Basi, the Senior Advisor at The Center for Financial, Legal & Tax Planning P.C., is a distinguished attorney and CPA, who also holds a Doctorate in Economics. As a Tax Course Instructor for the Internal Revenue Service’s Annual Filing Season Program, he educates tax preparers nationwide. Licensed in Illinois and New York, and admitted to the United States Supreme Court, Dr. Basi imparts expertise to CPAs and attorneys on financial, legal, and tax matters. Renowned as a sought-after speaker, he addresses audiences on topics including taxes, mergers, acquisitions, succession planning, and valuations for private companies. Additionally, Dr. Basi serves as a trusted advisor, guiding businesses through the complexities of inflation and economic impacts on strategic decision-making for private companies.